GAFI grants six new golden licences for projects worth EGP 5.6bn

Fatma Salah
3 Min Read

Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), granted six new golden licenses to representatives of the companies Enviroprocess for Industries and Waste Recycling, Hassan Allam for Strategic Warehouses in Luxor, Nilos Residential Services, Nilos Hotel and Commercial Services, Ice Links, and the National Egyptian Railway Industries Company (NERIC), bringing the number to The total number of projects that received the licence to 29.

The golden license is a comprehensive license for all permits required to establish, manage, and operate companies. It is granted by the Cabinet with the aim of facilitating procedures for investors and improving the overall business environment.

The total value of the six projects was estimated to be EGP 5.6bn. The NERIC will establish and operate a factory for railway, metro and high-speed train supplies and their components. The factory will be established in the Suez Canal Economic Zone at an investment cost of EGP 3.6bn.

EnviroProcess for industries and waste recycling will produce alternative fuels, carbon granules, and fibers from waste, at an investment cost of EGP 74m, in the industrial zone in Wadi Al-Sareya in Minya. Hassan Allam Company for Strategic Warehouses in Luxor will establish, manage, operate, and maintain the strategic warehouse according to the latest scientific and technological techniques, at an investment cost of EGP 1.5bn.

Nilos Residential Services and Nilos Hotel and Commercial Services will establish a huge residential and entertainment project on the Nile Corniche, consisting of two towers, one of which includes residential units and the other of which includes hotel, commercial and administrative units, at an investment cost of EGP 463.5m. Ice Links will establish a food factory at an investment cost of EGP 134.6m in the industrial zone in Borg El Arab.

The CEO of the Authority added that the projects that obtained the golden license show clear sectoral and geographical diversity, as the projects are distributed among the sectors of transportation, tourism, housing, internal trade, food industries, clean energy, and environmental investment. They are also distributed among five regions, namely Cairo, Alexandria, the Suez Canal, and North Upper and Lower Egypt. This is in line with the state’s plan to achieve comprehensive and sustainable growth and distribute the fruits of development across the country, allowing the largest number possible of citizens to benefit from the developmental impact of new investment flows, by providing job opportunities, increasing incomes, and developing infrastructure.

Heiba added that the government’s role is not limited to granting the golden license, but rather it is responsible for coordinating with all the authorities concerned with the company’s activity to facilitate all procedures. It will also follow up on the implementation of projects and ensure they are implemented according to the scheduled timetable.

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